Vincent is very much like your typical family man.
He is a successful self-employed professional, a loving husband, and a father who takes care of his health. But when his wife Cezanne started noticing that he was often tired and nauseous, she took him to their family doctor for a routine check-up. Little did they know, this visit would change their lives.
Vincent’s Unexpected Diagnosis
To their shock, at 39 years old, Vincent was diagnosed with colon cancer, The Laufs family had to brace themselves for an uncertain journey ahead. Luckily, they had illness insurance that would provide financial support in case of a severe illness. They say “Lightning never strikes (the same place) twice”– which was not the case with Vincent as it wasn’t Vincent’s only battle with a severe illness. Four years later, he had suffered a stroke. Would you and your family survive two illnesses that impact your ability to earn or generate an income for a prolonged period?
The Impact of Illness on the Family
With his colon cancer diagnosis, Vincent needed chemotherapy and radiotherapy, which meant he often couldn’t work for up to two weeks after each treatment. Cezanne recalls, “The first six months of his cancer treatment were incredibly hectic.” The whole family felt the impact of Vincent’s illness. “A severe illness diagnosis has a rippling effect on the person receiving the diagnosis and their immediate family,” says Dr Adil Khan Senior Medical Officer at Old Mutual. “The fear of the unknown, coupled with watching your loved one suffering can weigh heavily on your partner and young children. Having cover takes one major weight off you and your family’s shoulders.” Dr Khan adds.
The Value of Severe Illness Cover
Recovering from a cancer diagnosis involves not only coping with the emotional trauma of the diagnosis itself, but also enduring the agony of waiting during treatment, the anxiety of awaiting multiple rounds of test results, and the disruption of your regular routines. Cezanne credits her financial adviser for recommending severe illness cover, which proved invaluable in supporting them through both the stroke and cancer diagnoses. Vincent firmly believes that he would have had financial difficulties over the last five years, had it not been for the Old Mutual Illness insurance policy he had in place. This pay-out can be used to cover rehabilitation costs, travel expenses to treatment centres, modifications to your home or car and day-to-day expenses while taking time off from work to recover.
Old Mutual Illness insurance pays a single tax-free amount from R100 000 to R6 million if you have a critical illness such as cancer, a heart attack, or stroke. You will be covered up to 30 days before your first premium is payable, you can customise your cover to suit your specific needs, and in the case of a cancer diagnosis, should your quality of life be severely impacted by treatment, the Cancer Enhancer benefit will boost the cash payout by 25% if your quality of life is severely impacted by cancer treatment and you can’t care for yourself.
Don’t wait for an unexpected diagnosis to change the course of your life. Take control of your future and protect your family by speaking to your financial adviser or visiting www.oldmutual.co.za/illness.
Disclaimer: Old Mutual Life Assurance Company (SA) Limited is a licensed FSP and Life Insurer. Vincent received a monetary token of appreciation for sharing my story with Old Mutual and this isn’t financial advice. Ts & Cs apply.